AMLT - Another Token that Will Solve Challenges Faced by Cryptocurrency

The road to cryptocurrency mass adoption is still long and there are still many obstacles along the way. However, compared to several years ago, it is actually on the right track. One by one, the challenges that hinder the mass adoption of cryptocurrency have been solved, opening new gates to make virtual currency more mainstream and easily accessed by the public. AMLT, the token of COINFIRM network, is now available to be one of those solutions. It will address one of the biggest problems of cryptocurrency that is the transparency of the transaction.

The Urgency
People love the fact that cryptocurrency offers the utmost privacy when making transaction. Instead of providing personal data, the identity of the transaction will be recorded in the blockchain with a series of codes. As a result, the transaction will be secure but the privacy of the people behind the transaction will be kept secret.

Even though there is still a way to track the transactions if the authority requires it, the privacy aspect of blockchain makes it is easier for irresponsible people to do criminal financial activities here. It is relatively easy to do money laundering with virtual currency compared to other methods and it gives cryptocurrency and blockchain a very bad reputation.

If proper action is not taken to eliminate the shady business done with cryptocurrency, mass adoption of cryptocurrency will be impossible since law abiding citizens certainly don’t want to be involved in anything that could cause them troubles with the law. This is exactly the reason why AMLT is developed. It will provide complete access for the token holders to use the services provided by COINFIRM network. COINFIRM is a company that dedicates its services for the development of RegTech industry. It will help the clients who want to comply with the regulations to get the best out of cryptocurrency transaction.

Token of Compliance
Regulatory compliance is one of the biggest challenges of cryptocurrency. But contrary to the popular belief, ensuring the privacy of each transaction that is the principle of cryptocurrency and regulatory compliance can actually work hand in hand. AMLT strives to show that blockchain is not the center of shady transaction. There is actually a way to make a regulatory compliant cryptocurrency transaction without sacrificing the privacy of the users and this is why AMLT is called the token of compliance.

Cryptocurrency transaction can give a huge advantage for business. Unfortunately, many clients hesitate to use this method due to the lack of transparency. Moreover, the point of view that there are many crimes happening in blockchain transaction makes mass adoption of cryptocurrency for business becomes too good to be true. Business also finds it hard to get loan from traditional financial institutions because those institutions think virtual currency is too risky.

AMLT will totally reshape this phenomenon. Services from COINFIRM network will make cryptocurrency transaction safer and more compliant. As a result, cryptocurrency and blockchain will be much safer and the possibility of mass adoption will be higher since it can significantly reduce criminals hide their transactions in blockchain.

Hazem Danny Al Nakib, Founder of several business accelerators and incubators, an advisor to or partner of public and private entities including Securrency, Coinfirm, The Agency for Social Innovation, and Humaniq, among others

For detailed ABOUT Team Members descriptions please check out: AMLT Team or Join Telegram to communicate with #AMLT team!

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